City of Columbus - File #: 0939-2004

• File #: 0939-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 5/12/2004
• In control: Health, Housing & Human Services Committee
• On agenda: 6/7/2004
• Final action: 6/9/2004
• Title: To authorize an appropriation of $4,737,153 from the 2004 HOME Fund to the Department of Development; to authorize the expenditure of $4,317,830.05 from the HOME Fund to provide funding for various approved 2004 programs; and to declare an emergency. ($4,737,153.00)

Date	Ver.	Action By	Action	Result
6/9/2004	1	CITY CLERK	Attest
6/8/2004	1	MAYOR	Signed
6/7/2004	1	Columbus City Council	Approved	Pass
6/7/2004	1	COUNCIL PRESIDENT	Signed
5/20/2004	1	Dev Drafter	Sent for Approval
5/20/2004	1	Dev Drafter	Sent to Clerk's Office for Council
5/20/2004	1	CITY ATTORNEY	Reviewed and Approved
5/19/2004	1	Dev Drafter	Sent for Approval
5/19/2004	1	FINANCE DIRECTOR	Reviewed and Approved
5/19/2004	1	CITY AUDITOR	Reviewed and Approved
5/19/2004	1	Auditor Reviewer	Reviewed and Approved
5/18/2004	1	Finance Reviewer	Reviewed and Approved
5/17/2004	1	Dev Drafter	Sent for Approval
5/16/2004	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
5/13/2004	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND: This ordinance authorizes the appropriation and expenditure of FY 2004 HOME monies within the HOME Program for the Department of Development. The funds will assist for-profit and non-profit developers with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families. This ordinance is in accordance with Ordinance No. 0725-2004 passed April 19, 2004, authorizing the adoption and filing of the Consolidated Plan and application to the U.S. Department of Housing and Urban Development (HUD).

The funds will be allocated as follows: $3,498,507.10 for the Affordable Housing Opportunity Fund, $819,322.95 which represents the HUD required 15% set aside for projects developed by Community Housing Development Organizations (CHDOs), $273,107.65 for CHDO administration and $146,215.30 for HOME administration.

Emergency action is requested to allow for payment of projects where commitment letters have been issued.

FISCAL IMPACT: The City of Columbus is awarded $5,462,153 by the United States Department of Housing and Urban Development (HUD) to fund various housing assistance activities under the HOME Investment Partnerships Act. This ordinance requests the appropriation of $4,737,153.00 and expenditure of $4,317,830.05 from the total FY 2004 HOME entitlement of $5,462,153. Ordinance 0181-2004, passed February 2, 2004, authorized the appropriation of $725,000.00, which is the difference in the total grant award and the amount requested to be appropriated in this ordinance. A separate ordinance will authorize the expenditure of the remaining HOME funds ($273,107.65) for CHDO administration grants.




Title

To authorize an appropriation of $4,737,153 from the 2004 HOME Fund to the Department of Development; to authorize the expenditure of $4,317,830.05 from the HOME Fund to provide funding for various approved 2004 progra...